GerFX Review

by Forex EA Top Team

GerFX is a fully-automated Forex expert advisor that is sold on the MQL5 website. This EA can trade in multiple currency pairs and according to the vendor, it can reduce slippage.

The developer behind this system is Paul Exler, and he is the CEO of Exler Consulting GmbH. We don’t have any information on this person other than the fact that they are based in Germany. It is not clear whether he works alone or as a part of a team. There is no official address and the trading history has not been revealed. 

Forex traders need to be careful before investing in a trading system. There are so many fraudsters in the market these days that you must do thorough research before spending your money on a robot. This involves analyzing the features, pricing, strategy, trading performance, and reviews. To know more, check out our best Forex robots list.

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GerFX overview

The vendor has briefly explained the workings of the system on the MQL5 product page. We have explanations provided for the EA settings, along with a list of parameters. The vendor should have elaborated more on the features. They haven’t focused on any particular functionality, which is quite odd. Compared to other services, GerFX does not offer anything special.


GerFX is available for a price of $1600, which makes it one of the most expensive EAs on the market today. We don’t know why the vendor sells the robot at such a high price, but very few traders will be willing to spend this much money on a Forex robot. 

There are four rental options available for this system. The 1-month, 3-months, 6-months, and yearly rental plans cost $112, $296, $560, and $1000, respectively. A free demo version of the EA is available for download, but there is no refund policy.

How it works

GerFX is a Density Scalper that follows a mean reversion system during the quiet trading hours of the day. It trades mostly in pairs like EURUSD, GBPUSD, EURCHF, USDCHF, USDCAD, EURCAD, EURAUD, AUDUSD, AUDNZD, AUDCAD, and CHFJPY. However, you can experiment with others like USDJPY, EURJPY, EURGBP, EURNZD, GBPAUD, NZDUSD, and NZDCAD. The vendor recommends loading the EA on M5 charts. 

GerFX should run on a VPS continuously without any interruption. This tells us that the robot has a high-frequency trading approach. For automatic GMT offset calculation and news filter, you need to allow web requests to the URLs shared by the vendor. 

Trading strategy

Being a scalping bot, GerFX conducts a large number of traders daily. It usually deals in the smaller time frames, trying to profit off the price differences between pairs. Now, this strategy only results in minor profits generated for each trade, so it might take several years before you can make a sizable profit. Traderss, beginners, especially should avoid it.

Trading results

Growth chart of GerFX.

Since January 2021, the EA has placed 412 trades through this account, generating a small profit of 48.21 Euros. Its average daily and monthly profits are too low at 0.09% and 2.83% respectively. The current win rate for this account is 79%. It has a profit factor of 2.70 and a drawdown of 2.18%. The average loss and average win are -3.49 pips/-€0.33 and 3.90 pips/€0.24, respectively.

Trading results of GerFX.

As you can see from the trading history, the EA is only capable of making small profits. Also, it occasionally suffers consecutive losses. As such, we cannot consider it a profitable trading system.

Customer reviews 

User reviews for GerFX on MQL5.

We couldn’t find any user reviews for GerFX on third-party websites like Trustpilot, Forexpeacearmy, Myfxbook, and Quora. There are a few reviews on MQL5, but they cannot be trusted.


Backtesting results of GerFX.

During this backtest, the EA placed 25808 trades, winning 84.02% of them and generating a total profit of $59967. The win rate was slightly higher compared to the live results. This test went on from 2003 to 2018 with daily and monthly average profits of $12.88 and $305.95, respectively.

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See the best forex robots rating to make the right choice.
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